Bank Nifty Option Trade: Shooting Star Candlestick Pattern Can Bring Huge Profits
Investors in Bank Nifty option trade can earn huge profits by investing money in a particular up or down movement. There are many patterns formed in Bank Nifty on which traders can earn profits by taking trades. One such pattern is the Shooting Star candlestick pattern.
Shooting Star is a negative candle that is used to buy puts (PUT). It is considered a very important candle for downtrend, and a trade taken on the shooting star candle made at the right place can become a source of strong income.
However, every shooting star candle formed in the chart of Bank Nifty or Nifty 50 does not give profits. It gives bumper returns only when it is formed in a special pattern. According to expert Shiv Poojan Singh, the shooting star candle gives the maximum profit when the market is in a downtrend and after rising 300 to 400 points, a shooting star candle is formed at the top.
Option trading is a contract under which the buying and selling of security takes place for a fixed period of time, which can range from a week to months. The entire premium has to be sold before expiry, otherwise it will melt to zero. Option trading can be a better source of instant earning, but there is also a possibility of loss.
Note that Bank Nifty is very volatile, and investors should invest in it carefully and only after the advice of an expert. Prabhat Khabar.com will not be responsible for any loss or profit arising out of your customized trek.
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